Why the Fed Does This?

The Fed just unwound their balance sheet by a default percent So it would be likely that we should see a similar move higher. It's all about sentiment if I can convince you Jeff the chocolate cake is magic then you're going to eat it and start feeling better. Long-term yields have gone nowhere, why aren't we seeing double digits because the Fed has run off so many treasuries off its balance sheet and raise short-term rates at the same time? The most important question isn't why the Fed is doing what it'sdoing The ECB doing is what it's doing. Why can't they have that impact on the marketplace?

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